Qualified Individual (QI)

🔹 Definition

A Qualified Individual (QI) refers to a person who is authorized to act on behalf of a registered Filing Agent (FA) in transactions with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). Under the ACRA (Filing Agents and Qualified Individuals) Regulations, a QI must meet specific professional qualifications, experience requirements, and fit and proper criteria to perform corporate service functions legally.

Qualified Individuals are key players in ensuring compliance with ACRA regulations, AML/CFT obligations, and maintaining integrity in corporate filings.

🔹 Frequently Asked Questions (FAQs)

Q1: Who can be a Qualified Individual (QI) under ACRA regulations?
To qualify, an individual must fall under at least one of the following categories:

• An advocate and solicitor of the Supreme Court of Singapore
• A public accountant registered under the Accountants Act 2004
• A member of ISCA, AIA (Singapore Branch), ICAS, or CSIS
• A corporate secretarial agent with at least 3 years of active practice in the last 5 years

Q2: What documents are required during QI registration?
Depending on the QI category, examples of required documents include:

• Practising certificates or membership proof from recognized bodies
• Letters of engagement, invoices, or UEN of employer for secretarial service agents
• CPF contribution records and verification letters for employment confirmation

Q3: What are the general requirements to be registered as a QI?

• Must be deemed a fit and proper person (evaluated by ACRA)
• Must meet one of the prescribed qualification paths
• If previously sanctioned, must wait at least two years before reapplying
• Must attend and pass the mandatory AML/CFT proficiency course once every 2 years

Q4: What role does a QI play in corporate compliance?

• Acts on behalf of a Filing Agent (FA) to file transactions with ACRA
• Ensures all client onboarding and filings are compliant with AML/CFT standards
• Responsible for due diligence checks on corporate clients and beneficial owners
• Maintains documentation and supports audit trails for regulated services

Q5: Is QI status transferable between companies?
Yes. A QI may move between different Filing Agents, but must update their registration records accordingly and maintain active compliance status, including AML/CFT certification validity.